If you want to stand out online and generate a healthy income in this lockdown season you can’t deny the power of product development.
We live in a time where you can conduct the entirety of your business entirely from the comfort of your bed, all thanks to technology advancement.
While online sales provide supplementary income in addition to the main job for some people; it has become a full time job for a host of others. What both cases have in common is, that they both leverage the undeniable benefits of selling digital products.
Digital products are easy to distribute, significantly more sustainable, can be replicated infinitely, and are oftentimes simpler to create. With little more than one or a few devices, any person is capable of making a digital product worthy of sharing or selling. No physical materials, factories, or staff required. Just a reliable device, a commitment and an ample of time.
So, you may now be wondering “But what types of digital products can I create?” Well, we counter your question with a question in return: “What kind of products do you want to create?”
Here are a list of few products you can create for your customers.
eBooks have been and continue to be one of the most popular digital products for both creators and customers. They are relatively simple to produce since they require little more than written text and a few relevant images. eBooks are simple to distribute via large marketplaces or self-created online stores. They’re easily consumed by customers, who can read them on e-readers, tablets, computers, and even their mobile phones.
The beauty of creating eBooks is that you can share almost anything you know, or are passionate about, in text form. You can educate, advise, or curate existing content with an eBook to then sell on your website.
Audio is a powerful medium for communicating messages, and there are many different types of audio digital products. People pay for audio tracks that entertain them, soothe them, inform them, inspire them and help them achieve business goals, to list just a few examples.
Audio products can include:
• Recorded lectures
• Musical samples
• Foreign language lessons
• Relaxing background noises
• Reusable sound effects
• Full lyrical or instrumental music tracks.
The added advantage of an audio product is that, it can be transcribed into a blog post, a short eBook or even short series of articles.
Video is an extremely popular and effective format for delivering information online. Video content can be educational, informative, or entertaining. It’s significantly more engaging than text, and can be easily consumed by clicking a play button and watching. Many people love video, and in many cases are happy to pay for it.
If you’re a great public speaker, have a visual-based passion, or just love sharing your thoughts on video; you can start creating visual products for your customers in form of video. With a few editing tools you can start earning from seeking videos online.
e-Learning is an industry rich in innovation, and is growing with unprecedented momentum. As it grows, we are starting to see traditional educational institutions explore new ways to make their content available to learners. As for established educational programmes, learning material can be sold in a few different ways:Ae-Learning is an industry rich in innovation, and is growing with unprecedented momentum. As it grows, we are starting to see traditional educational institutions explore new ways to make their content available to learners. As for established educational programmes, learning material can be sold in a few different ways; either as a downloadable one-off course, a collection of courses or as a membership/subscription to a service.
Courses are very often sold the same way as other digital products, and with the same tools, which is why we’ve become very familiar with online course sellers.
5. Professional Services
Services, though quite different from products are very commonly sold in the same way as digital products. They are often sold one of two ways:
•As fixed-price services. The cost of the service is predefined and known to the customer before needing to engage with the service provider.
•On a case-by-case basis. The required work is scoped by the service provider, quoted to the customer, and the cost is agreed upon by both parties.
With many service-based jobs, you are selling your time in exchange for a specific outcome or result, instead of a product. Or, you may be selling your time for a completely bespoke product, unique only to that one customer.
These days, all kinds of service providers are opting to sell their services online. Below is a very brief list of some of the professions that can sell services online:
And so much more..
So, in this “stay at home season” what will you start selling?